USD/CHF support likely to emerge in 1.0065/30 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, USD/CHF appears supported around the 1.0065/30 area.

Key Quotes

“The market has stalled at 1.0159, the 61.8% retracement of the move down from December, it did not register a close above this level and we are correcting lower ahead of a move to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs. Dips lower are indicated to terminate circa 1.0065/30”.

“Only below 1.0015 would trigger a slide to the .9861/50 recent low and Fibo”.